Description
What’s new in CESGA 5.0—and why does it matter?
European regulation and sustainability reporting
Explore developments in the European sustainable-finance framework, including sustainability reporting requirements and ESRS. Understand their implications for the availability, comparability and use of corporate sustainability information.
Why it matters: Investment analysis requires an understanding of what companies disclose, the scope of that information and its limitations.
A deeper focus on global standards
Develop your understanding of ISSB Standards, including IFRS S1 and IFRS S2, and their relationship with ESRS and other reporting frameworks.
Why it matters: Analysing companies across markets requires the ability to interpret disclosures prepared under different standards and identify information relevant to investment decisions.
From ESG research to investment action
Explore how material sustainability issues inform qualitative analysis, financial forecasts, valuation and portfolio decisions.
Why it matters: Identifying an ESG issue is only the starting point. Assessing its financial implications helps you form and explain an investment conclusion.
More practical engagement and stewardship
Examine how research findings translate into engagement objectives, indicators, milestones and escalation steps, supported by a dedicated engagement case study.
Why it matters: Effective engagement requires clear priorities and a structured way to assess companies’ responses and progress.
Climate risk across the investment process
Consider physical and transition risks across reporting, research, valuation and portfolio management.
Why it matters: Climate-related risks can affect cash flows, creditworthiness and asset values, and need to be considered throughout the analysis.
A broader view of markets and emerging issues
Explore regional developments across Asia-Pacific, Africa, Latin America and North America, alongside topics such as nature, geopolitics, AI and cyber risk, human capital and human rights.
Why it matters: Sustainability risks and opportunities depend on regional conditions and evolving business realities.
European foundations. Global relevance.
CESGA 5.0 combines its European sustainable-finance foundations with international standards and an investment-focused approach.
ESRS integration is supported by EFRAG. ISSB Standards, including IFRS S1 and IFRS S2, are integrated under licence from the IFRS Foundation.
Your Refresh learning path
CESGA 5.0 Refresh gives you six months of online, self-paced access to refresh your knowledge. To complete the Refresh, focus on these required areas:
- Module 2: Regulatory Environment — Explore the evolving sustainable-finance framework, including post-Omnibus developments and their implications for companies and investors.
- Module 5: ESG Reporting — Refresh your understanding of sustainability reporting, materiality, IFRS S1 and IFRS S2, and the connections between ESRS, ISSB and GRI.
- Module 6: ESG Integration in the Investment Process — Engagement content only — Translate research findings into engagement objectives, measurable milestones, monitoring and escalation.
Modules 2 and 5 must be completed in full. For Module 6, only the Engagement content is mandatory.
How to complete CESGA 5.0 Refresh
1. Complete the required learning content
Watch the mandatory videos in full, without skipping, and complete the accompanying 5-question quizzes. You have three attempts per quiz.
2. Pass the final Refresh quiz
Complete the 15-question assessment covering Modules 2 and 5 and the Engagement content of Module 6. You have a maximum of two attempts to pass.
Once you have completed all required Refresh learning activities and passed the final assessment, you will receive an official letter by email confirming completion of CESGA 5.0 Refresh.
Learning is self-paced; individual tutoring is not included.
Who is CESGA 5.0 Refresh for?
CESGA 5.0 Refresh is available to existing CESGA certificate holders who want to keep their knowledge current and explore the latest programme content.
If you do not yet hold the CESGA designation, please explore the CESGA 5.0 Online Course & Certification.
Price and eligibility
Certified before 2026: Access CESGA 5.0 Refresh for €250.
Certified in 2026: Access CESGA 5.0 Refresh free of charge. Enter coupon code CESGAHOLDER2026 at checkout to apply your complimentary access. This offer is available to CESGA holders who obtained their certification in 2026.
Sign in using your authorised holder email to register. The coupon is restricted to eligible 2026 holder emails. If your email address has changed or you experience any difficulties registering, please contact cesga@effas-academy.com with your full name, CESGA diploma number and current email address so we can verify your eligibility and arrange your access.
Keep your CESGA knowledge up to date
Build on your existing expertise and explore how sustainability standards and investment practice are evolving.
This is an optional knowledge update. Your existing CESGA designation remains valid whether or not you complete the Refresh.
